First American Title’s Post

March is Fraud Prevention Month – and experts say title and mortgage fraud are fast growing in Canada.   It’s important for homeowners to protect properties and identities. Title insurance is one great way to protect your property.   Title fraud refers to when the ownership or title of a property is fraudulently changed or documents are forged to allow a fraudster to illegally sell or refinance the property. The issue gained prominence last year amid two Toronto police investigations in which homes were allegedly listed for sale without the owners’ knowledge, including one where the home was sold.   Have questions about how to protect your property and identity? I’m here to help!

March is Fraud Prevention Month – and experts say title and mortgage fraud are fast growing in Canada.   It’s important for homeowners to protect properties and identities. Title insurance is one great way to protect your property.   Title fraud refers to when the ownership or title of a property is fraudulently changed or documents are forged to allow a fraudster to illegally sell or refinance the property. The issue gained prominence last year amid two Toronto police investigations in which homes were allegedly listed for sale without the owners’ knowledge, including one where the home was sold.   Have questions about how to protect your property and identity? I’m here to help!

INDUSTRY NEWS: Are you a homeowner? Protect yourself against title fraud! Title and mortgage fraud has become an urgent issue in Canada recently. Last year, there were two investigations in which homes were allegedly listed for sale without the owners’ knowledge. There was also one news incident in BC in which an owner’s home was fraudulently sold without their knowledge. Title insurance is a cost-effective defence for homeowners. “If you have title insurance, they basically step into your shoes and take whatever steps are required to rectify the matter,” said Daniel La Gamba, a real estate lawyer and partner at LD Law LLP. Clients, real estate organizations, brokers, and lawyers benefit from the use of secure and meticulous identity verification processes. DIACC members including Land Title and Survey Authority of British Columbia, The Canadian Real Estate Association | L'Association canadienne de l'immobilier, Treefort Technologies, LawyerDoneDeal, and more, are leaders who collaborate to develop capabilities and tools to fight fraudulent activities in the real estate industry. Rob Cutler Sonia Hobbs Kriteen Lahiry Jay Krushell Benjamin Hughes #fraud #identitytheft #realestate #verification https://lnkd.in/gjPEzViF

Amidst rising concerns over title and mortgage fraud in Canada, it's crucial for homeowners and real estate professionals to stay vigilant and adopt protective measures. This article sheds light on the significance of title insurance and the increased susceptibility of certain demographics to these scams, underscoring the need for enhanced awareness and preventative steps within the industry. Highly informative for industry stakeholders - thanks for sharing DIACC Digital Trust Laboratory of Canada #DTLab #DigitalID #DigitalCredentials #CyberSafe #RealEstate #TitleFraud #HomeOwnership

A scam used to illegally obtain houses and land is silently targeting more unsuspecting victims in Indiana, and it often leaves people in need of legal help to regain their assets. Deed theft or property fraud is the transfer of a home or land to someone else without the true owner's permission. The scammer fills out a blank quit claim deed, has the document falsely certified and then, files the deed with a county clerk's office, which records the sale. Faith Kimbrough, recorder for Marion County, explained another tactic. "Suppose a scammer files a bogus property deed, that looks like the actual property owner transferred the ownership to someone else. The con artist could then take the deed to a bank, obtain a fraudulent mortgage, and walk away with thousands of dollars," Kimbrough pointed out. The thief usually has an unsuspecting buyer lined up, rents the home or gets a home equity line of credit. Offers to help with refinancing or pay overdue taxes are other ways crooks operate. The FBI's 2022 Internet Crime Report showed nearly 12,000 individuals in the U.S. racked up real estate losses of $350 million due to fraud. Too often, an owner does not realize their property has been stolen until it's too late. Upon discovery, Kimbrough recommended victims contact her office immediately to review recently filed documents, and hire an attorney. As a precaution, she advises all homeowners to sign up for a free service which will immediately call, email or text a property owner when any filing has been submitted in their name. "We currently provide what we call the Property Fraud Alert," Kimbrough noted. "We cannot prevent it from happening. We will alert you to let you know that's happened, and then you can call us." AARP has cautioned homeowners to always review tax, banking and other home-related documents which are sent to another name but using your address. It could be a sign an illegal transfer has occurred. When in doubt, the organization suggested consulting a lawyer before signing anything, and to never sign documents under pressure.

Attempted Graceland sale exposes title, mortgage fraud tactics https://ift.tt/9KlIjEc Seller impersonation fraud has reportedly risen significantly over the years, and one such fraudster attempted to cash in by facilitating a fraudulent sale of Graceland, the famous Memphis, Tennessee, home owned by the late Elvis Presley. But while a fraud attempt targeting such a famous structure and family would easily make national news, the vast majority of title theft and mortgage fraud schemes do not. The Graceland incident, however, highlights some common tricks that scammers may try to pull on ordinary people, according to a story published this week by the The Wall Street Journal. A company recently attempted to auction off Graceland, claiming that Elvis’ late daughter, Lisa Marie Presley, had defaulted on a loan that used the palatial home and now-museum as collateral. Last month, actress Riley Keough — Lisa Marie’s daughter and Elvis’ granddaughter — sued to stop the sale and alleged that the company was perpetrating fraud. The company that aimed to instigate the auction did not appear to be real, and the documents supporting their claim were suspect, according to reporting from the The Associated Press. A scammer later took credit for the ordeal. But homes where the original owners are deceased are common targets of similar scams on much lower-profile properties, according to a Miami-based real estate attorney who spoke with the Journal. “Here’s how it works: A fraudster targets your house and assumes your identity, using tactics similar to identity thieves to acquire your personal information and create fake IDs,” the story explained. “He or she then tries to sell it to an unsuspecting buyer by executing a forged deed in your name. An alternative scam is to submit a mortgage application in your name to get cash out of the house. “The good news is that except in very rare circumstances, a fake deed won’t transfer your title, even if it initially gives the appearance of a transfer in public records, nor will a forged mortgage create any obligation for an innocent homeowner to pay. The bad news is that restoring your title and clearing the property of any fraudulent mortgages can be a lengthy and expensive process,” the story said based on input from sources. Impersonation fraud has risen “sharply” over the past few years according to Sarah Frano, vice president and real estate fraud expert at First American Title Insurance Co. Some of the factors influencing this could be the increasing popularity and prevalence of remote closings and notarizations, as well as much higher levels of home equity from pandemic-induced home price appreciation increases. “For scammers, that equity, which can be unlocked by a sale of a home, a cash-out refinance or a second mortgage, is an opportunity to sell the property out from under you or to steal your identity to mortgage your house,” the story stated. While the risk of losing a home to title theft is ...

Protect Your Real Estate Investment: Common Scams Exposed Are you considering a real estate transaction? Whether you're buying, selling, or renting, it's essential to be aware of the common real estate scams that could put your investment at risk. At [MegaCasas](https://megacasas.net/), we're committed to your safety and success in the real estate market. In this article, we'll unveil the most prevalent real estate scams and how to safeguard your investments. Real estate scams can cost you time, money, and peace of mind, but with the right knowledge and precautions, you can steer clear of these pitfalls. The Lure of Phony Listings Real estate scammers have become masters of deception, creating fake property listings with stunning visuals and enticing descriptions. It's all too easy to fall for their tricks, but you can avoid these scams by: - Researching property and seller background - Insisting on a personal visit - Verifying property ownership through official records Wire Fraud: Protect Your Money Wire fraud is on the rise in the real estate world. Scammers impersonate trusted entities, convincing buyers to send money for properties or closing costs. Here's how to stay safe: - Verify wiring instructions through trusted sources - Communicate sensitive information through secure channels - Be cautious of last-minute changes to wire transfer instructions Don't Fall for Rental Scams If you're searching for a rental property, you need to watch out for scams. Fraudsters often offer non-existent properties or unrealistic deals. Protect yourself by: - Meeting the landlord and inspecting the property before paying any deposits - Staying skeptical of high-pressure tactics and deals that seem too good to be true Avoiding Foreclosure Scams Homeowners facing foreclosure are particularly vulnerable to scammers offering false solutions. Protect yourself by: - Consulting with housing counselors, attorneys, or legitimate agencies - Never paying upfront fees to anyone promising to prevent foreclosure Safeguard Your Real Estate Transactions Protecting yourself from real estate scams is crucial for a secure and successful investment. Here are some key tips: 1. Work with Reputable Professionals - Real Estate Agents: Choose licensed, experienced agents. - Attorneys: Consult reputable real estate attorneys. - Title Companies: Use established title companies. 2. Verify Property Information - Ownership Records: Confirm the property's ownership and history. - Property Inspections: Get professional property inspections. [Ready to protect your real estate investment? Visit MegaCasas for expert advice and assistance.](https://megacasas.net/) Remember, vigilance and due diligence are your best allies in the world of real estate to avoid falling prey to scammers. [

𝗪𝗵𝗮𝘁 𝗶𝘀 𝗵𝗼𝗺𝗲 𝘁𝗶𝘁𝗹𝗲 𝗳𝗿𝗮𝘂𝗱? Home title fraud, also known as deed fraud, is a serious crime where someone steals the legal ownership (title) to your property. The fraudster then uses the stolen title for their own benefit, such as: - Selling the property: They might try to sell your house and pocket the profits. - Taking out a loan: They could use the stolen title to secure a loan against the equity in your home. - Renting the property: In some cases, they might even rent out your home and collect the rental income. This can be a devastating situation for homeowners, as it can take a long time and significant legal resources to reclaim their property. 𝙃𝙚𝙧𝙚'𝙨 𝙝𝙤𝙬 𝙩𝙝𝙚 𝙛𝙧𝙖𝙪𝙙𝙨𝙩𝙚𝙧𝙨 𝙩𝙮𝙥𝙞𝙘𝙖𝙡𝙡𝙮 𝙤𝙥𝙚𝙧𝙖𝙩𝙚: - Stealing personal information: They might steal your social security number, driver's license, or other identifying information to forge documents. - Creating fake documents: They could create fake deeds or other ownership documents to make it appear as if they own the property. - Exploiting loopholes: In some cases, they might exploit weaknesses in the recording system or take advantage of situations where the homeowner is not actively managing the property. 𝙃𝙚𝙧𝙚 𝙖𝙧𝙚 𝙨𝙤𝙢𝙚 𝙩𝙝𝙞𝙣𝙜𝙨 𝙮𝙤𝙪 𝙘𝙖𝙣 𝙙𝙤 𝙩𝙤 𝙥𝙧𝙤𝙩𝙚𝙘𝙩 𝙮𝙤𝙪𝙧𝙨𝙚𝙡𝙛 𝙛𝙧𝙤𝙢 𝙝𝙤𝙢𝙚 𝙩𝙞𝙩𝙡𝙚 𝙛𝙧𝙖𝙪𝙙: - Be careful about who you share your personal information with. - Review your property tax statements and other official documents regularly. - Consider getting title insurance. This can help cover the legal costs of defending your ownership in case of fraud. - Monitor your credit report for any suspicious activity. If you suspect that you may be a victim of home title fraud, it's important to contact the authorities and a lawyer immediately. 𝙎𝙘𝙖𝙢𝙢𝙚𝙧𝙨 𝙩𝙧𝙞𝙚𝙙 𝙩𝙤 𝙨𝙩𝙚𝙖𝙡 𝙂𝙧𝙖𝙘𝙚𝙡𝙖𝙣𝙙. 𝙃𝙚𝙧𝙚’𝙨 𝙝𝙤𝙬 𝙩𝙤 𝙢𝙖𝙠𝙚 𝙨𝙪𝙧𝙚 𝙩𝙝𝙚𝙮 𝙙𝙤𝙣’𝙩 𝙜𝙚𝙩 𝙮𝙤𝙪𝙧 𝙝𝙤𝙢𝙚. Read the full article here: https://lnkd.in/gMjrHTw2 Zsuzsanna Murray | DRE: #01932070 Realtor Cell: (619) 606-2349 The REAL Brokerage | DRE: #02022092

Warning: Property & Mortgage Fraud is on the Rise! ~~~ This is a great public service announcement (PSA) highlighting the dangers of property and mortgage fraud. Here's a breakdown of the key points: ~~~ The Problem: Property and mortgage fraud are serious issues, according to the FBI. Scammers can steal your home by filing fake deeds and taking out loans in your name. This could lead to foreclosure on your property. How it Works: Criminals create fake documents to appear as the rightful owner and then obtain a mortgage on the property. This can leave the real owner facing financial hardship and even losing their home. The Solution: Property Fraud Alert! This free service monitors official records for any activity related to your property. If there's suspicious activity, you'll be notified so you can take action. ~~~ Call to Action ~~~ Protect yourself! Sign up for Property Fraud Alert at your local Clerk of Court's office. Early detection is crucial to stopping fraudsters in their tracks. ~~~ Take Action! ~~~ Here's what you can do to protect yourself: ~~~ Check with your County Clerk: See if your county offers a Property Fraud Alert program. Sign Up: If available, enroll in the program to monitor your property records. Stay Vigilant: Review your property records regularly for any suspicious activity. ~~~ By being proactive, you can significantly reduce the risk of property fraud. ~~~ Here are some additional resources: ~~~ ·      Hillsborough County: https://lnkd.in/ewFE3SDu ·      Pasco County: https://lnkd.in/esn5MccV ·      Pinellas County: https://lnkd.in/ePQz__F4 ~~~ Other Recourses: ~~~ ·      You can find more information about Property Fraud Alert on Fidlar Technologies' website: Property Fraud Alert: https://lnkd.in/ei8TC7sv Your local county clerk's website may also have information about Property Fraud Alert or similar services. ~~~ By sharing this information, I can help raise awareness and empower people to safeguard their property. ~~~ The Real Estate Matchmaker! Tom Scaglione, ePRO, SFR, Realtor Future Home Realty, Inc. [email protected] Direct: (813) 310-8200 Text: agent1000 to 72889 Serving Tampa Bay Area Since 1987

Imagine sitting down in a realtor’s office to close on a new property—and then discovering the seller didn’t actually own the land you thought you were buying. It seems impossible, but seller impersonation fraud is a growing problem. One in five title companies reported dealing with such fraud in April 2024 alone, and 28% experienced at least one such attempt last year. A study from the American Land Title Association examines the prevalence of seller impersonation fraud and what both individual buyers and industry professionals can do to limit the damage. Given the high demand and low inventory in the housing market lately, it’s only natural that fraudsters would be leveraging real estate scams to their advantage. Read more: https://ow.ly/LXGr50SSpRE #fraud #sellerimpersonation #title #realestatefraud #homebuyers